Bitcoin Analysis (01/04)
■ Monthly Close: The price of Bitcoin closed below the resistance range at 68,278, after a clear failure to break through, reflecting continued selling pressure and the dominance of the bearish trend in the short term.
■ Current Situation: The price is still moving below the key resistance area of 73,400 – 71,200, with a clear respect for this range. If the price can maintain above this area, we may see an attempt to rise towards the next resistance at 74,627.
Conversely, the continuation of the downward pressure is not ruled out, as the price may retest the current support area of 63,000 – 62,577, which is considered an important area to determine the upcoming trend.
■ Alternative Scenario: If the price fails to maintain the current support and breaks below the level of 62,577 – 63,000, it is expected to continue falling towards the next support area at 60,268 – 59,649.
■ Technical Levels:
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Resistance: • First Resistance: 73,400 – 71,200 (+4.3% — +7.5%) • Next Resistance: 74,627 (+9.3%)
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Support: • First Support: 63,000 – 62,577 (−7.7% — −8.3%) • Next Support: 60,268 – 59,649 (−11.7% — −12.6%)
■ Monthly Close: The price of Bitcoin closed below the resistance range at 68,278, after a clear failure to break through, reflecting continued selling pressure and the dominance of the bearish trend in the short term.
■ Current Situation: The price is still moving below the key resistance area of 73,400 – 71,200, with a clear respect for this range. If the price can maintain above this area, we may see an attempt to rise towards the next resistance at 74,627.
Conversely, the continuation of the downward pressure is not ruled out, as the price may retest the current support area of 63,000 – 62,577, which is considered an important area to determine the upcoming trend.
■ Alternative Scenario: If the price fails to maintain the current support and breaks below the level of 62,577 – 63,000, it is expected to continue falling towards the next support area at 60,268 – 59,649.
■ Technical Levels:
📌
Resistance: • First Resistance: 73,400 – 71,200 (+4.3% — +7.5%) • Next Resistance: 74,627 (+9.3%)
📌
Support: • First Support: 63,000 – 62,577 (−7.7% — −8.3%) • Next Support: 60,268 – 59,649 (−11.7% — −12.6%)